Guide on the Requirements for BDO Ready Check Loan Application Process
REQUIREMENTS FOR BDO READY CHECK LOAN FOR BUSINESS — Here are the documents needed in applying for the business loan offer of BDO Unibank.
Truth be told that business operations often times need a huge amount of money and several resources so it can reach a good state of profitability. That is why a lot of business owners consider applying for loans in the pursuit of bringing their business to a new level.
In the Philippines, there are several banks that offer business loans and one of them is BDO Unibank, a giant in the banking field in the country. Aside from the BDO Term Loan 2023 offer, it also has the Ready Check which can provide you with access to a pool of funds that you can turn to for your business needs.
The BDO Ready Check Loan offer is open for loan applicants who are at least 21 years upon the loan application and not more than 70 years old and below upon the loan maturity. According to the bank, it best works for:
- Buying inventory or supplies to address seasonal or bulk orders
- Working capital to address operational requirements
- Paying suppliers while waiting for customer collection
Under this loan offer, once you have paid, the amount goes back to your available credit line. It is open for…
- Sole Proprietorship, Partnership, Corporation
- Business is in profitable operation for at least 2 consecutive years
- Minimum annual gross sales of ₱1M
- Business is within a BDO serviceable area
There are documentary requirements for BDO Ready Check Loan application that must be submitted to apply for the offer. It depends whether your business is owned by a sole proprietorship, a partnership, or a corporation.
Here are the requirements for BDO Ready Check Loan that must be submitted to BDO Unibank in applying for the loan offer:
Individual or Sole Proprietorship
- For Locally Employed Applicants
- Filled-out and signed application form
- Clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Latest Income Tax Return or BIR Form 2316 or latest payslip
- Certificate of Employment (COE) with Salary
- For Self-Employed Applicants
- Filled-out and signed application form
- Clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements for the last 6 months or Photocopy of Passbook showing at least 6 months transactions
- Certificate of Business Registration with DTI
- Business Background/Company Profile
- For Overseas Filipino Workers (OFWs)
- Filled-out and signed application form
- Clear copy of one (1) valid ID matching application details
- Marriage Contract (if applicable)
- Certificate of Employment with Salary/Employment Contract
Partnership
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements for the last 6 months or Photocopy of Passbook showing at least 6 months transactions
- Articles of Partnership and Certificate of Registration issued by SEC
- Business Background / Company Profile
- Proof of other income
Corporation
- Photocopy of Audited Financial Statements for the last 2 years with latest ITR
- Bank Statements for the last 6 months or Photocopy of Passbook showing at least 6 months transactions
- Certificate of Registration issued by SEC, Latest Amended Articles of Incorporation and By-Laws , List of Elected Officers / General Information Sheet, Board Resolution or Secretary’s Certificate
- Business Background / Company Profile
- Proof of other income